Given the following information on a bond,

Par value: $1000

Interest rate: 6%

Coupon rate: 8% paid semiannually

Years to maturity: 15 years,

what is the expected price at the end of year 5?

Question 7Select one:

a.

1145.32

b.

1152.98

c.

1148.77

d.

1141.97

• please show math and explanation